HYBRIDS experienced the biggest price fall of any fuel type in Q2 of 5.6% (£1,198) despite average age falling to 47 months and 45,786 miles. Because EV prices are falling, hybrid demand has been affected, with more used car buyers moving straight to electric from petrol or diesel rather than using a hybrid as a stepping stone.
EV prices remained the most consistent they have been for some months, by falling just 1.4% (£329) from Q1 to Q2, as average age and mileage remained at 30 months and 22,128 miles. There are signs that the sector is now stabilising following the Tesla price drop, which has impacted the EV sector by prices falling and demand rising.
Some EV prices are now on a par with their ICE equivalent for the first time, which is making choosing between petrol and diesel and an EV much easier. The Tesla brand remains very aspirational in the used EV sector.
